Forexmospherian
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I will kick off on this thread by saying - just be very very weary on anything you hear from the actual commercial world on Trading - especially on FX trading
The latest rubbish I hear from a few industry guys on retail trading - is that maybe only 2% really make it and therefore 98% of all retail traders either give up - fail - and so we should all believe them - not bother and give up.
What a laugh - from an Industry that does not even know how many retail traders there are around the world. Some surveys reckon on under half a million - others anything from 1 to 2 million over approx 200 countries - including countries were gambling is forbidden
The real facts that we do know - is that in the UK for FX trading to be allowed into the spread-betting category - over 70/ 75 % of all trader must lose on a fairly continual basis.
So lets maybe look at between 80 and 90% of traders failing - that still allow anything from 10 -20% of all traders being successful on a continual basis - either monthly or yearly and making money .
That ratio is not that bad - out of every 100 school boy footballers on the books of junior leagues - they reckon only 3 to 5 will end up in the premier league.
Similar - on new business start ups - the odds favour failure but obviously a lot more than 2% go on to be successful
So why is the industry ie the Banksters ( not so much the Brokers ) wanting to frighten retail traders off when only 13 -17 years ago they were actively welcoming the change bought about by the Internet - and saying FX day trading can suit everyone - housewives - teachers - builders - Professionals etc etc ??
Lets just pause and look at these figures in more detail
T2W report approx 328 K traders. Now get rid of the commercial bodies and the old past traders and the multi nics etc etc - and say if there are a few thousand active then even at just 2% - that would mean 50 - 100 members here are successful retail trader - if not full time - still making consistent monies
If there are only 500k retail traders around the world - I reckon there is at least 10% + successful - so what 50K + world wide and even on 2% its 10,000 retail successful traders.
But according to some "insiders" - even those retail traders who are successful - are just lucky![Smile :) :)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
I notice there are lots of threads on the forum dealing with Brokers - featuring the good - the bad - and bust ones - loads on dodgy vendors and failed courses etc etc - but where are the ones on the real enemy - yes those nice Bankers.
Look forward to hearing all the "dirt" - yes the tricks - the stories and all the dodgy dealing etc etc
Regards
F
The latest rubbish I hear from a few industry guys on retail trading - is that maybe only 2% really make it and therefore 98% of all retail traders either give up - fail - and so we should all believe them - not bother and give up.
What a laugh - from an Industry that does not even know how many retail traders there are around the world. Some surveys reckon on under half a million - others anything from 1 to 2 million over approx 200 countries - including countries were gambling is forbidden
The real facts that we do know - is that in the UK for FX trading to be allowed into the spread-betting category - over 70/ 75 % of all trader must lose on a fairly continual basis.
So lets maybe look at between 80 and 90% of traders failing - that still allow anything from 10 -20% of all traders being successful on a continual basis - either monthly or yearly and making money .
That ratio is not that bad - out of every 100 school boy footballers on the books of junior leagues - they reckon only 3 to 5 will end up in the premier league.
Similar - on new business start ups - the odds favour failure but obviously a lot more than 2% go on to be successful
So why is the industry ie the Banksters ( not so much the Brokers ) wanting to frighten retail traders off when only 13 -17 years ago they were actively welcoming the change bought about by the Internet - and saying FX day trading can suit everyone - housewives - teachers - builders - Professionals etc etc ??
Lets just pause and look at these figures in more detail
T2W report approx 328 K traders. Now get rid of the commercial bodies and the old past traders and the multi nics etc etc - and say if there are a few thousand active then even at just 2% - that would mean 50 - 100 members here are successful retail trader - if not full time - still making consistent monies
If there are only 500k retail traders around the world - I reckon there is at least 10% + successful - so what 50K + world wide and even on 2% its 10,000 retail successful traders.
But according to some "insiders" - even those retail traders who are successful - are just lucky
I notice there are lots of threads on the forum dealing with Brokers - featuring the good - the bad - and bust ones - loads on dodgy vendors and failed courses etc etc - but where are the ones on the real enemy - yes those nice Bankers.
Look forward to hearing all the "dirt" - yes the tricks - the stories and all the dodgy dealing etc etc
Regards
F
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